First Republic Bank on verge of collapse

[Seamajor]

Still buying it

 

[Seamajor]

They're only $3 a share so it might be a good buy @Garraty_47

$300 for 100 shares? Might be worth the risk.

Trouble is, the handlers of the so called free market might suspend trading before it opens tomorrow

It's 'free market' when they make money and it isn't when the average investor does

Typical gambling casino tactics.

The 'House' would rather that the ordinary investor not make too much.

Just because it’s cheap, doesn’t mean anything

 

[The Prowler]

Oh keep quiet. I use a credit card for all my financial transactions and haven’t been hacked once. Plus my bank offers me full reimbursement in the event of a hack or swindle.

And we‘ve heard about your silver and fucking gold for donkey’s years. Fit a cork…or a pineapple for that matter. Your fucking currency is the fucking Costa Rican Colön for fuck sakes!

:GdBy:

I use credit cards for around 99% of my purchases wherever I can. Some I cannot, like property tax.

I get at least 1% Cash Back, and upwards of 4% Cash Back, depending on the type of purchase. Different cards provide different benefits for different products. I use the best for each type of purchase.

There are other benefits. For instance, my World Elite MasterCard provides me with Travel insurance and out-of-country health insurance. Many card add a second year of warranty to electronics and appliance purchases. Etc.

As long as you do not carry a balance, credit cards are a good way to save. Not to mention the added convenience.

 

[Cookie Monster]

I never or rarely use credit, you pay for it one way or another.

 

[Joe]

Just because it’s cheap, doesn’t mean anything

I think the Bank got taken over already & they suspended trading on Friday so I suppose it'd mean diddly squat unless they got converted into JP Morgan share prices.

so I wonder what happens to all those outstanding First Republic Bank shares, eh @Seamajor ?

 

[The Prowler]

I never or rarely use credit, you pay for it one way or another.

Explain what you mean.

Option A

I buy a $1000 item with my credit card.
Sometime late, I get my credit card bill. Payment is due about 14 days later.
One day before payment is due, I pay the bill.

At the annual renewal date of the credit card, they give me $10 (1%) cash for that purchase.

I am out-of-pocket net $990.

Option B

I buy a $1000 item with cash.

I am out-of-pocket net $1000.

 

[The Prowler]

I think the Bank got taken over already & they suspended trading on Friday so I suppose it'd mean diddly squat unless they got converted into JP Morgan share prices.

so I wonder what happens to all those outstanding First Republic Bank shares, eh @Seamajor ?

@Joe What do you mean "they got converted into JP Morgan share prices"?

@Joe Do you even understand the basic terminology?

@Joe Are you wondering if FR Bank stock will be converted into JP Morgan stock? @Joe Then say that. Not what you said, which just displays your lack of understanding.

@Joe He is a stooge too.

@Joe Do you only take advice from stooges?

@Joe He is absolutely wrong about his analysis of the Balance Sheets. He was concerned that loans issued (assets) were greater than deposits (liabilities). That is not a problem the way he described it. The problem was that people were withdrawing their deposits, and they did not have enough liquid assets to cover that debt, so they had to take out loans themselves. Look at the short-term borrowing figures: It went from $0, to $6.7 billion, to $80.365 billion. That is the issue. If they had a lot of cash, then they would be find to issue a lot of loans, regardless of how much liability they had in the form of customers' deposits.

@Joe You are easily impressed by anyone with a YouTube channel, whether or not they say anything intelligent.

@Joe You should be embarrassed.

 

[Joe]

Actually @The Prowler heres the answer I was looking for which is stated in the YT video:

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The shareholders with stock in a failed us bank don’t get anything. No jp morgan stock either

That is so grim. Can’t imagine someone who might have bought 1000 shares when it was trading at $100 usd each. Quite obviously many did & bought many more shares than that

Thats a lotta money Prowler!

This is not like Canada where the major banks have never failed like that. Think if i ever bought bank stock itd only be in a Canadian bank, eh?

 

[The Prowler]

Actually @The Prowler heres the answer I was looking for which is stated in the YT video:

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The shareholders with stock in a failed us bank don’t get anything. No jp morgan stock either

That is so grim. Can’t imagine someone who might have bought 1000 shares when it was trading at $100 usd each. Quite obviously many did & bought many more shares than that

Thats a lotta money Prowler!

This is not like Canada where the major banks have never failed like that. Think if i ever bought bank stock itd only be in a Canadian bank, eh?

@Joe There is a chance that shareholders will be given some cash. They are just last in line. That is how it always is done when a business is liquidated, which is what is really happening here. All debt is paid, then if there are assets left over, they are liquidated and distributed to the owners (shareholders, in the case of a publicly trade company).

@Joe Anyone who invested 100,000 USD into one stock must have a pretty diversified portfolio. If they did not, then they took a big risk and are paying the price.

@Joe I have owned stock in all the big Canadian banks, in addition to smaller banks like Laurentian Bank of Canada and National Bank of Canada. Obviously my stock portfolio includes several Canadian banks at any given time.

@Joe You have a very basic and extremely limited understanding of investing.

@Joe At your age, why do you not understand investments better?

@Joe What is your Net Worth approximately?

 

[Joe]

@Joe There is a chance that shareholders will be given some cash. They are just last in line. That is how it always is done when a business is liquidated, which is what is really happening here. All debt is paid, then if there are assets left over, they are liquidated and distributed to the owners (shareholders, in the case of a publicly trade company).

Actually @The Prowler, here's a more detailed explanation of what happens to the shareholders

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What about First Republic’s stock?​

The stock will be

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. When a bank is seized by the government, its common shareholders are wiped out. In this case, First Republic shareholders, along with its debt holders, will not receive anything. ​

​

JPMorgan Chase said that it would not assume First Republic’s corporate debt or preferred stock.​

​

....harsh, eh Prowler?

I thought you had an expert understanding of the situation. Maybe you ought to challenge the NYTimes on theirs.

 

[Joe]

@Joe What is your Net Worth approximately?

You're so nosy @The Prowler.

Since you're into idle boasting & it's so important to you, why don't you tell me and all the BF members what your Investment Net Worth is, Prowler?

List the investments, the amount, the stocks you hold.

Better yet, post a link to your account for all to view.

Agreed?

I want you to post an official statement of your holdings.

Thank you.

 

[Breakfall]

You're so nosy @The Prowler.

Since you're into idle boasting & it's so important to you, why don't you tell me and all the BF members what your Investment Net Worth is, Prowler?

List the investments, the amount, the stocks you hold.

Better yet, post a link to your account for all to view.

Agreed?

I want you to post an official statement of your holdings.

Thank you.

Hi @Joe …hi @Joe

 

[Joe]

@Joe Fess up. After decades of worrying about your financial position; after decades of it being one of the main focuses of your attention: Where do you stand?

I told you before @The Prowler.

I'm in no mood to invest at the moment given the shaky economic situation in the US and elsewhere.
Do you live in a bubble? Haven't you been listening to the news about the bank failures and that others may be on the horizon?

If you choose to invest like a bull, that's fine with me.
And if you manage to make a huge profit in this environment & beat the odds, then congratulations.

Personally I would rather not.

The markets these days are officially in a cylical bear Prowler and the bull market which began over a decade ago is over. Therefore, the investment environment has completely changed within a matter of months.

Do you understand that concept? do you know what a Bear market is?

Here's a video I posted before which might educate you:



Man is very experienced educated and wealthy.

You might learn something from him.

I don't necessarily endorse his prediction of a severe downturn.

However he explains the concepts of market cycles extremely well which you can learn from.

 

[Breakfall]

I told you before @The Prowler.

I'm in no mood to invest at the moment given the shaky economic situation in the US and elsewhere.
Do you live in a bubble? Haven't you been listening to the news about the bank failures and that others may be on the horizon?

If you choose to invest like a bull, that's fine with me.
And if you manage to make a huge profit in this environment & manage to beat the odds, then congratulations.

Personally I would rather not.

The markets these days are officially in a cylical bear Prowler and the bull market which began over a decade ago is over. Therefore, the investment environment has completely changed within a matter of months.

Do you understand that concept? do you know what a Bear market is?

Here's a video I posted before which might educate you:



Man is very experienced educated and wealthy.

You might learn something from him.

I don't necessarily endorse his prediction of a severe downturn.

However he explains the concepts of market cycles extremely well which you can learn from.

Whatever @Joe …don’t ever quote me again @Joe …be like that ya old sook!

 

[Joe]

The stock market has always been an insiders gambling scheme. It's not the free market.

I made the decision when I was a teen to never participate in the scam.

Maybe I would have temporarily made out, but likely I'd be in the exact same place when I die as when I was born.... none the richer, and just a swaddling of cloth wrapped around me.

My conscience will be clear.

Trading unquantifiable things which unquantifiable entities decide the value of in shadowy back room deals or summits is the epitome of slavery, should you eagerly sign up for an account.

Much of what you say may be true @Frood

At the same time, there are times to invest and other times to stay away from the market or move to safer ground.

lately, it seems to be advisable to stay away for the time being.

I would never fall for the lines, "Stay Invested" or "I'm in it for the long term" or "Hey! Don't worry if it crashes or experiences a correction, it'll always come back."

Gambling is gambling. have you ever heard of a professional gambler who intentionally bets on a hand knowing that it will be trumped by another and he will lose all his chips/money?

The fatal error many investors seem to make is they mistake a trading account for a savings account and that the value of their 401k accounts is permanent and everlasting. Of course it isn't. In many ways the stocks they trade are like chips on a poker table. The valuations are temporal and fleeting as this guy has found out:



he's down over $100k USD over just 1 year.

and the he repeatedly complains, "It's just not sustainable."

Yet, it was an unrealistic ideal/perception on his part to begin with.

Guy shoulda cashed out most of his equities when he was riding high.

"Know when to hold 'em know when to fold 'em."

 

[The Prowler]

Actually @The Prowler, here's a more detailed explanation of what happens to the shareholders

Please, Log in or Register to view URLs content!

What about First Republic’s stock?​

The stock will be

Please, Log in or Register to view URLs content!

. When a bank is seized by the government, its common shareholders are wiped out. In this case, First Republic shareholders, along with its debt holders, will not receive anything. ​

​

JPMorgan Chase said that it would not assume First Republic’s corporate debt or preferred stock.​

​

....harsh, eh Prowler?

I thought you had an expert understanding of the situation. Maybe you ought to challenge the NYTimes on theirs.

@Joe I do not need to read that article @Joe.

@Joe They will have to liquidate assets to know what debt can be paid back @Joe, and only then will they know if there is money left over to distribute to the shareholders.

 

[The Prowler]

You're so nosy @The Prowler.

@Joe You are always talking about investments and money this and money that.

@Joe I just thought it would be interesting to know how much you have benefited from all the worrying you do.

@Joe What is the big secret? @Joe We are all friends here.

Since you're into idle boasting & it's so important to you, why don't you tell me and all the BF members what your Investment Net Worth is, Prowler?

List the investments, the amount, the stocks you hold.

Better yet, post a link to your account for all to view.

Agreed?

I want you to post an official statement of your holdings.

Thank you.

@Joe I am not looking to boast about my modest financial position. @Joe I am not the one between us who is always going on and on and on about the economy, the stock market, the value of the dollar, commodities, etc. etc. etc.

@Joe I have investments with several financial institutions. I do not have a statement that shows all investments.

@Joe What amount would you need to see to cause you to cry?

@Joe Because I would enjoy making you cry.

 

[The Prowler]

I told you before @The Prowler.

I'm in no mood to invest at the moment given the shaky economic situation in the US and elsewhere.
Do you live in a bubble? Haven't you been listening to the news about the bank failures and that others may be on the horizon?

If you choose to invest like a bull, that's fine with me.
And if you manage to make a huge profit in this environment & beat the odds, then congratulations.

Personally I would rather not.

The markets these days are officially in a cylical bear Prowler and the bull market which began over a decade ago is over. Therefore, the investment environment has completely changed within a matter of months.

Do you understand that concept? do you know what a Bear market is?

Here's a video I posted before which might educate you:



Man is very experienced educated and wealthy.

You might learn something from him.

I don't necessarily endorse his prediction of a severe downturn.

However he explains the concepts of market cycles extremely well which you can learn from.

@Joe So you do not have investments in equities.

@Joe And you indicated recently that you do not own any real estate.

@Joe So where are you hiding your fortune @Joe?

@Joe Is it safely under your bed?

 

[Breakfall]

@Joe So you do not have investments in equities.

@Joe And you indicated recently that you do not own any real estate.

@Joe So where are you hiding your fortune @Joe?

@Joe Is it safely under your bed?

Fucking cunt doesn’t even talk to me! Makes me want to piss in his mouth! (No homo)

 

[Frood]

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From 2011 to 2019 gold lost about 40% of its value. During the same period just having an index fund in the S&P 500 would have gotten you a steady ~10% with no loads and rock bottom fees. Hell, today you can get ~6.5% interest on a high yield savings account before we even talk about CDs.

The markets were and have been fixed. Physical has always been in short supply and now being consumed by non US regimes.

We'll be back to a precious metals standard in our lifetime, with added authoritarian bent.... nobody but the governments can hold it. Holding undeclared will be akin to money laundering, trafficking, and dereliction of patriotic values where the accused will be lambasted first in the court of public opinion, and then the actual courts.

 

[Breakfall]

Much of what you say may be true @Frood

At the same time, there are times to invest and other times to stay away from the market or move to safer ground.

lately, it seems to be advisable to stay away for the time being.

I would never fall for the lines, "Stay Invested" or "I'm in it for the long term" or "Hey! Don't worry if it crashes or experiences a correction, it'll always come back."

Gambling is gambling. have you ever heard of a professional gambler who intentionally bets on a hand knowing that it will be trumped by another and he will lose all his chips/money?

The fatal error many investors seem to make is they mistake a trading account for a savings account and that the value of their 401k accounts is permanent and everlasting. Of course it isn't. In many ways the stocks they trade are like chips on a poker table. The valuations are temporal and fleeting as this guy has found out:



he's down over $100k USD over just 1 year.

and the he repeatedly complains, "It's just not sustainable."

Yet, it was an unrealistic ideal/perception on his part to begin with.

Guy shoulda cashed out most of his equities when he was riding high.

"Know when to hold 'em know when to fold 'em."

Fuck you mother fucker!!k!y,!!

 

[Cookie Monster]

Explain what you mean.

Option A

I buy a $1000 item with my credit card.
Sometime late, I get my credit card bill. Payment is due about 14 days later.
One day before payment is due, I pay the bill.

At the annual renewal date of the credit card, they give me $10 (1%) cash for that purchase.

I am out-of-pocket net $990.

Option B

I buy a $1000 item with cash.

I am out-of-pocket net $1000.

Explain what you mean. Treating cash flow as a form of Cost benefit analysis is not how it works.

If you are re-arranging cash flow to have now and pay later you are paying for the earlier time of goods which are assets held by you but "owned " by the company till you settle..

If you are gaming the company to make $10 then I promise you it wont last.

 

[Cookie Monster]

According to Yellend and the stiif at JPM the banking system is fine.

The former is a DNC flunky who while at Citigroup was lucky not to go the way of Lehman Brotthers with their level of debt. And the stiff is likely to gain from any collapse as a tax payer funded buy out by JPM is win win for those clowns.

RELAX EVERYTHING IS FINE!!!!!!!!!!!!!!

 

[Breakfall]

Explain what you mean. Treating cash flow as a form of Cost benefit analysis is not how it works.

If you are re-arranging cash flow to have now and pay later you are paying for the earlier time of goods which are assets held by you but "owned " by the company till you settle..

If you are gaming the company to make $10 then I promise you it wont last.

Just wank yo dick to night! Lolololol,

 

[Oerdin]

The markets were and have been fixed. Physical has always been in short supply and now being consumed by non US regimes.

We'll be back to a precious metals standard in our lifetime, with added authoritarian bent.... nobody but the governments can hold it. Holding undeclared will be akin to money laundering, trafficking, and dereliction of patriotic values where the accused will be lambasted first in the court of public opinion, and then the actual courts.

There is not enough gold on the world to have a gold standard.

 

[Seamajor]

This is exactly why it will always have value. As things fall apart further it will have more. I’ll be in SF on the 18th. On the 21st I’ll own another 10 1 oz Indian head gold coins.

 

[Breakfall]

This is exactly why it will always have value. As things fall apart further it will have more. I’ll be in SF on the 18th. On the 21st I’ll own another 10 1 oz Indian head gold coins.

Careful Rai….don’t bleed!

 

[Breakfall]

This is exactly why it will always have value. As things fall apart further it will have more. I’ll be in SF on the 18th. On the 21st I’ll own another 10 1 oz Indian head gold coins.

Just fuck off!

 

[Joe]

@Joe I have investments with several financial institutions. I do not have a statement that shows all investments.

...in other words, you're a liar @The Prowler

You boast your imaginary assets as if you've weaponized them.

You're a toothless braggart and nothing more.

 

[Seamajor]

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Its awesome the way 10 of they clank together